https://arab.news/whkgr
- Infrastructure Rehabilitation Project to boost growth, connectivity and job creation in Roseau
RIYADH: The Saudi Fund for Development signed a loan agreement on Sunday with Dominica to finance the $41 million Infrastructure Rehabilitation Project in Roseau, the capital city.
The project is expected to drive socio-economic growth and improve the quality of life, according to the Saudi Press Agency.
The agreement was signed by the fund’s CEO Sultan Al-Marshad and Dominican Minister of Finance Irving McIntyre.
Dominica’s Prime Minister Roosevelt Skerrit delivered a keynote address at the ceremony, expressing gratitude for Saudi Arabia’s support and acknowledging the fund’s role in the project.
The project involves rehabilitating seven main streets, improving road connectivity, and enhancing safety and access to basic services.
It will also contribute to commercial and residential development and create jobs, SPA reported.
The project aligns with the UN’s Sustainable Development Goals and demonstrates the fund’s commitment to supporting development in Dominica and other Small Island Developing States.
Al-Marshad said: “We wish Dominica continued growth and prosperity. May this project drive positive change and sustainable development.”
McIntyre said: “The project is a critical step in addressing the challenges facing Roseau. It is expected to increase social and economic productivity.2
The Saudi fund, celebrating its 50th anniversary, has financed over 800 projects in 100 countries. Since 2023, it has extended development loans to 10 new Small Island Developing States.